The BTC has broken out of a trading range that kept prices subdued below $4,400.00. Prices briefly traded above $4,700.00 on Wednesday, possibly setting the stage for a test of the psychological $5,000.00 threshold. Some analysts think we will reach that level soon.

The world’s No. 1 cryptocurrency has more than quadrupled since the start of 2017. The gains have been relentless with very few exceptions, as global investors embrace cryptocurrency as an asset class.

Ethereum (ETH/USD) is also approaching record highs after prices surged toward $400.00 on Wednesday. At present, ETH is up more than 1% at $384.00.